Apple Inc. (NASDAQ:AAPL) is Greenfield Savings Bank’s Largest Position

Greenfield Savings Bank cut its position in shares of Apple Inc. (NASDAQ:AAPL) by 0.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,230 shares of the iPhone maker’s stock after selling 546 shares during the quarter. Apple accounts for 6.1% of Greenfield Savings Bank’s portfolio, making the stock its largest position. Greenfield Savings Bank’s holdings in Apple were worth $11,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of AAPL. Wyrmwood Management LLC lifted its stake in Apple by 69.0% during the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock valued at $33,000 after buying an additional 69 shares in the last quarter. A.P. Gilfoyle & Co. L.P. purchased a new stake in Apple during the fourth quarter valued at about $39,000. Gilfoyle & Co LLC lifted its position in shares of Apple by 118.0% in the fourth quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock worth $40,000 after purchasing an additional 118 shares in the last quarter. University of Texas Texas AM Investment Managment Co. boosted its holdings in shares of Apple by 657.1% during the fourth quarter. University of Texas Texas AM Investment Managment Co. now owns 424 shares of the iPhone maker’s stock worth $82,000 after purchasing an additional 368 shares during the period. Finally, Clarity Asset Management Inc. acquired a new stake in shares of Apple during the fourth quarter worth approximately $85,000. 60.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Apple

In other Apple news, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total value of $14,368,500.00. Following the sale, the director now owns 4,359,576 shares of the company’s stock, valued at approximately $835,207,570.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total value of $16,864,085.49. Following the sale, the chief executive officer now owns 3,377,407 shares in the company, valued at approximately $574,260,512.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 75,000 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $191.58, for a total transaction of $14,368,500.00. Following the completion of the sale, the director now owns 4,359,576 shares in the company, valued at approximately $835,207,570.08. The disclosure for this sale can be found here. Insiders have sold 346,270 shares of company stock valued at $60,880,196 in the last 90 days. 0.06% of the stock is currently owned by company insiders.

Apple Trading Down 1.0 %

Shares of AAPL stock opened at $207.49 on Monday. Apple Inc. has a 1 year low of $164.07 and a 1 year high of $220.20. The firm’s fifty day simple moving average is $187.87 and its 200 day simple moving average is $184.75. The firm has a market capitalization of $3.18 trillion, a P/E ratio of 32.27, a price-to-earnings-growth ratio of 2.55 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.24.

Apple (NASDAQ:AAPL) last announced its quarterly earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. The firm had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a net margin of 26.31% and a return on equity of 148.33%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. As a group, sell-side analysts predict that Apple Inc. will post 6.58 EPS for the current year.

Apple announced that its Board of Directors has approved a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $110.00 billion in outstanding shares. This repurchase authorization permits the iPhone maker to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Apple Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.48%. The ex-dividend date was Friday, May 10th. This is a positive change from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is 15.55%.

Analysts Set New Price Targets

AAPL has been the subject of several research reports. Rosenblatt Securities restated a “neutral” rating and set a $196.00 price target on shares of Apple in a report on Tuesday, June 11th. Canaccord Genuity Group lifted their target price on shares of Apple from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Saturday, May 4th. Citigroup reduced their target price on shares of Apple from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Barclays reiterated an “underweight” rating and issued a $164.00 target price on shares of Apple in a research note on Tuesday, June 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Apple from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.38.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.